EUR/USD technical analysis: Euro under pressure near 2019 lows as Draghi is speaking

09/12/2019 12:49:04 GMT|ByFlavio Tosti

EUR/USD is taking a dive as the European Central Bank’s (ECB) cut interest rates by 0.1% and announces Quantitative Easing (QE).
Draghi is now speaking about the stimulus package.
The level to beat for sellers is the 2019 low at 1.0926 price level.

EUR/USD daily chart

On the daily time-frame, the shared currency is trading in a bear trend below its main daily simple moving averages (DSMAs). The European Central Bank’s (ECB) has slashed interest rates by only 0.1% but announces QE, EUR/USD leaps then crashes.

EUR/USD four-hour chart

The Euro is under bearish pressure below its main SMAs as the market is at a stone’s throw from the 2019 low at 1.0926. If the bears break below this level the next level to watch become 1.0888, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

The market is spiking down as ECB’s Draghi is speaking. Immediate resistances are seen at 1.0968, 1.0991 and 1.1030 price levels.

Additional key levels

EUR/USD

Overview
Today last price	1.0967
Today Daily Change	-0.0047
Today Daily Change %	-0.43
Today daily open	1.1014

Trends
Daily SMA20	1.1058
Daily SMA50	1.1138
Daily SMA100	1.1186
Daily SMA200	1.1265

Levels
Previous Daily High	1.1056
Previous Daily Low	1.0985
Previous Weekly High	1.1085
Previous Weekly Low	1.0926
Previous Monthly High	1.1251
Previous Monthly Low	1.0962
Daily Fibonacci 38.2%	1.1012
Daily Fibonacci 61.8%	1.1029
Daily Pivot Point S1	1.0981
Daily Pivot Point S2	1.0948
Daily Pivot Point S3	1.091
Daily Pivot Point R1	1.1051
Daily Pivot Point R2	1.1089
Daily Pivot Point R3	1.1122

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